Lloyds TSB tax certificate error
Dagobert
Posts: 1,625 Forumite
This affects people who received TSB's Save the Change incentive in 2006/07 and 2007/08.
TSB paid participants two incentives up to a maximum of £50 in the March and April 2007 respectively. They paid the incentive net of tax.
The tax certificate for 2006/07 reflects the March incentive. The tax certificate for 2007/08 doesn't.
It's a pretty sad state of affairs if yiou can't even rely on interest calculations being correct (see Lloyds Classic Plus 6% - is your interest correct this month?).
TSB paid participants two incentives up to a maximum of £50 in the March and April 2007 respectively. They paid the incentive net of tax.
The tax certificate for 2006/07 reflects the March incentive. The tax certificate for 2007/08 doesn't.
- Why did they deduct tax at source in the first place? I have never seen an incentive payment treated as if it was interest.
- If interest was deducted at source, the 2007/08 certificate needs to be amended. Otherwise, people who pay less than 20% tax in that year can't claim it back.
It's a pretty sad state of affairs if yiou can't even rely on interest calculations being correct (see Lloyds Classic Plus 6% - is your interest correct this month?).
Dagobert
0
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